Hi,
We are planning to partition common property among our family members. When we approached document writers / lawyer's they gave us two options:
1) Partition deed
2) Release deed
They explained about the both the deeds and about Stamp & registration charges (which has no difference, charges are same for both deed).
We choosed RELEASE DEED. Because there will not be any dependency on other member (say 1st member of the family) ,who holds main deed were others can have only the copy of docment, and whenever required we have to disturb the other for the main copy in case of any verification.
So, we decided to have separate documents among our family members and choosed RELEASE deed.
My question here is:
1) Is this right approach to go with the RELEASE deed?
2) What are main points to be mentioned here?
3) Is this will be valid, in case if we want resale our property without any legal issue?
Please help in answering the above.
Thank you very much in advance!
Regards,
Vinodh.
